Annual report pursuant to Section 13 and 15(d)

Concentrations

v2.4.1.9
Concentrations
 12 Months Ended
Dec. 31, 2014
Risks And Uncertainties [Abstract]  
Concentrations

NOTE 10 — CONCENTRATIONS

Revenue from the Company’s products for the years ended December 31, 2014, 2013 and 2012 are as follows:

 

 

 

Years Ended December 31,

 

 

 

 

2014

 

 

2013

 

 

2012

 

 

Laser systems

 

 

61.9

 

%

 

68.6

 

%

 

73.8

 

%

Imaging systems

 

 

9.0

 

%

 

8.2

 

%

 

5.9

 

%

Consumables and other

 

 

13.7

 

%

 

11.5

 

%

 

10.4

 

%

Services

 

 

15.1

 

%

 

11.3

 

%

 

9.6

 

%

License fees and royalties

 

 

0.3

 

%

 

0.4

 

%

 

0.3

 

%

Total revenue

 

 

100.0

 

%

 

100.0

 

%

 

100.0

 

%

Approximately 6%, 5%, and 3% of the Company’s revenue in 2014, 2013, and 2012, respectively, was generated through sales to HSIC worldwide.

The Company maintains its cash and cash equivalent accounts with established commercial banks. Such cash deposits periodically exceed the Federal Deposit Insurance Corporation insured limit.

No individual customer represented more than 10% of the Company’s accounts receivable at December 31, 2014 and 2013.

The Company currently purchases certain key components of its products from single suppliers. Although there are a limited number of manufacturers of these key components, management believes that other suppliers could provide similar key components on comparable terms. A change in suppliers, however, could cause delays in manufacturing and a possible loss of sales, which could adversely affect the Company’s business, results of operations and financial condition.